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European markets seen opening lower
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Holiday in the United States
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OPEC+ talks continue
Equities in Asia traded mixed during the first trading session of the week and European futures point to a slightly lower opening of the European cash session. Traders from the United States are off for holiday therefore investors should expect lower liquidity throughout the day. There will be no cash session on Wall Street but futures on US assets will continue to trade (see trading hours below).
When it comes to economic releases, calendar is light today. Investors will be offered services PMIs from Europe but those will be mostly revisions to June's reading and should not have a major impact on the market. An event of note for oil traders is OPEC+ meeting. Oil producers failed to reach an agreement on output last week and talks will continue today, starting at 2:00 pm BST.
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- No trading - SOYBEAN, COFFEE, COCOA, CORN, COTTON, SUGAR, WHEAT
- Trading until 4:30 pm BST - VOLX
- Trading until 6:00 pm BST - US100, US30, US500, US2000, GOLD, SILVER, PLATINUM, PALLADIUM, USDIDX, TNOTE, OIL.WTI, NATGAS
- Trading until 6:30 pm BST - OIL
Economic calendar
8:15 am BST - Spain, services PMI for June. Expected: 60.5. Previous: 59.4
8:45 am BST - Italy, services PMI for June. Expected: 55.9. Previous: 53.1
8:50 am BST - France, services PMI for June (final). First release: 57.4
8:55 am BST - Germany, services PMI for June (final). First release: 58.1
9:00 am BST - Euro area, services PMI for June (final). First release: 58.0
9:30 am BST - UK, services PMI for June (final). First release: 61.7
2:00 pm BST - OPEC+ meeting
Central bankers speeches
- 10:00 am BST - ECB President Lagarde
- 12:30 pm BST - ECB President Lagarde
- 5:00 pm BST - ECB Enria
- 6:00 pm BST - ECB de Guindos
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